Join the newsletter and receive financial insights in your inbox

Blog

Collecting Social Security at the right time can have a big impact on retirement. Many people could benefit by delaying Social Security past the age of 62, however, according to the Social Security Administration data shows that only 31% of those collecting benefits are collecting their full benefit.
To be clear, collecting Social Security is a decision

The end of the year is a great time to do a review of your finances. Things that tend to change at the beginning of each year are contribution limits and taxes. If retirement planning and financial stewardship is a priority to you, then doing an annual review is vital.

The question of paying off your house or not is one that seems to be a constant debate among people approaching retirement. In fact, it’s a good question for anyone with a mortgage.
The way I see it, there are two perspectives that need to be evaluated to come up with an answer to this question.

I have written before about Health Savings Accounts (HSA) and how wonderful they are, but with open season on the horizon I thought it was time to freshen up on our HSA knowledge. There are a few characteristics of HSAs that most people aren’t aware of.
Not all pretax accounts and contributions are created equal...

Everyone loves tax free money, but sometimes it’s hard to pay more today for a future benefit. Roth conversions definitely fall in the camp of delayed gratification - but could be a useful planning technique for many federal employees.

Most people are aware that they will be required to take money out of their qualified accounts when they get older. But as with anything in life, the timing is what matters. Do you just start blindly taking withdrawals when you hit 70 ½?

The FERS annuity is the foundation of the federal employee retirement plan. While some federal employees may know how to calculate their FERS annuity, I have found that there are four elements of FERS that people fail to grasp.

If you knew how to potentially save a couple thousand dollars a year, would you do it? If yes, then I would recommend looking in to bunching your expenses.
The concept of bunching your expenses has been around for a long time, but I believe has become more applicable with the new tax law.

Paying for college can easily be one of the biggest expenses that parents will incur during their lifetimes. Although it is likely to cost a significant amount of money, it isn’t much different from other major purchases that

The main purpose for a survivor annuity is for married FERS employees to have the option to leave an income stream to their surviving spouse. In other words, you can leave a benefit at your death (sound familiar?). The reason for the SA is quite simple – many spouses can’t afford to lose an income of $2,000 a month

Money is just money, right? Well, not exactly when it comes to retirement income. It’s not as straightforward as you would think. There are a number of things different about retirement income compared to your regular paycheck. Many of the changes will benefit federal employees, but not all. For example, taxes are just one of the things that will be different in retirement.

Ask a high income earner who works in the medical field and they’ll likely say that taxes are one of their biggest financial concerns.
Accounts like a Traditional IRA, 401k, 403b, deferred comp and Roth IRAs (aka “tax shelters”) give investors tax benefits for investing in them. Does that mean that a regular taxable account is bad for medical professionals?

Bobb Financial Incorporated (BF) is a registered investment adviser offering advisory services in the State(s) of Illinois and in other jurisdictions where exempted. Investment Advisor Representative, RDA Financial Network, a Registered Investment Advisor. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by BF in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.

All written content on this site is for information purposes only. Opinions expressed herein are solely those of BF, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

We produce content for a few specific groups, please check the box(es) that interest you.

College Planning Doctors Federal Employees General Interest

By submitting this form, you are granting: Bobb Financial Group, P.O. Box 165, Chatham, Illinois, 62629, United States, permission to email you. You may unsubscribe via the link found at the bottom of every email. (See our Email Privacy Policy for details.) Emails are serviced by Constant Contact.